NEW YORK--(BUSINESS WIRE)--Fitch Ratings assigns an 'AA-' rating to $1.5 billion Empire State Development Corporation (New York State Urban Development Corporation) state personal income tax (PIT) revenue bonds (general purpose), consisting of --$501,510,000 series 2009C, --$224,120,000 series 2009D (federally taxable), --$775,615,000 series 2009E (federally taxable-Build America Bonds). The bonds...
MONTERREY, Mexico--(BUSINESS WIRE)--Fitch Ratings has assigned Telefonos de Mexico, S.A.B. de C.V.'s (Telmex) US$500 million 5.5% senior notes due 2019 'A-'. Fitch currently rates Telmex's local and foreign currency Issuer Default Ratings (IDRs) at 'A-' with a Stable Rating Outlook. Proceeds from the offering are expected to be used for general corporate uses. Telmex's rating are supported by the company's...
CHICAGO--(BUSINESS WIRE)--Fitch Ratings corrects the bond description on recently rated Wayne County, Michigan limited tax building improvement bonds. The bonds originally named general obligation (GO) limited tax building improvement bonds, series 2009B (taxable - recovery zone economic development bonds) are now named general obligation (GO) limited tax building improvement bonds, series 2009A. The...
Prices of Treasury coupon securities are posting mixed changes today and as the day draws to a close the belly of the curve will outperform the wings of the curve. There was some active trading earlier in the session but as the day has worn on customer interest has wanned. [More...]
AUSTIN, Texas--(BUSINESS WIRE)--Fitch Ratings assigns an 'AA' rating to the following series of Northside Independent School District, Texas' (the district) unlimited tax bonds: --$13,625,000 unlimited tax school building bonds, series 2009A; --$28,325,000 unlimited tax school building bonds, taxable series 2009 (Direct Subsidy-Build America Bonds); --$15,419,999 unlimited tax refunding bonds, series...
NEW YORK--(BUSINESS WIRE)--Fitch Ratings has upgraded the $110,305,000 outstanding Health Care Facilities Authority of Sayre (Pennsylvania) revenue bonds (Guthrie Health Issue) series 2007 and $45,965,000 series 2002A to 'A+' from 'A'. The Rating Outlook is Stable. The upgrade to 'A+' reflects Guthrie Health's (Guthrie) substantial reduction in debt service requirements due to a buyback of outstanding...
NEW YORK--(BUSINESS WIRE)--Fitch Ratings revises the Rating Outlook to Stable from Positive on $12,815,000 New Hampshire Health and Education Facilities Authority hospital revenue bonds (Speare Memorial Hospital), series 2004. Fitch also affirms the rating at 'BBB-'. The revision of the Rating Outlook to Stable from Positive reflects weakened profitability and an increased debt position. After producing...
SAN FRANCISCO--(BUSINESS WIRE)--RS Investments (RS), a San Francisco-based investment management firm, today announced that Kevin Booth, CFA, has been named co-portfolio manager of RS High Yield Bond Fund (GUHYX). “Kevin’s decades of experience are reflective of the strength of the team supporting RS’s fixed income funds,” said Leslie Barbi, who heads fixed income investing...
In this new short note from FRBSF economist analyses inflation expectations in US. Predicting the course of inflation is one of the most important challenges facing monetary policymakers. Useful aids to such prediction are the measures of expected future inflation obtained from prices in government bond markets. An examination of recent inflation-indexed and non-indexed U.S. Treasury [...]
During the campaign, Obama made a definitive promise not to raise any taxes on families making less than $250,000 per year: “I can make a firm pledge. Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes” (September 12, 2008, Dover, NH) "No one making...
NEW YORK--(BUSINESS WIRE)--Fitch Ratings does not expect to take any negative rating actions following the transfer of the Peter Cooper Village/Stuyvesant Town (PCV/ST) loan to special servicing today. The $3 billion A-Note was transferred to CWCapital, as special servicer, due to the sponsors' request for relief. Details of the request for relief by Tishman Speyer Properties, LP and Blackrock Realty...
SAN FRANCISCO--(BUSINESS WIRE)--Fitch Ratings assigns an 'AA+' rating to $75.1 million City of Beverly Hills Public Financing Authority (Los Angeles County, California) 2009 lease revenue bonds (Capital Improvement and Refunding Project). In addition, Fitch affirms its 'AA+' rating on the City of Beverly Hills' (the city) $192.9 million outstanding lease revenue bonds and its implied general obligation...
Vanguard was a relative latecomer to the exchange traded fund (ETF) industry, launching its first fund in 2001. But the firm has since become the third-largest ETF provider, thanks in part to low fees. Vanguard Group Inc. is already the largest U.S. stock and bond mutual fund manager, and now the...
OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best Co. has revised the outlook to stable from positive and affirmed the issuer credit rating (ICR) of “bbb” of Upland Mutual Insurance, Inc. (Upland) (Junction City, KS). Additionally, A.M. Best has affirmed the financial strength rating (FSR) of B++ (Good) of Upland. The outlook for the FSR is stable. The positive outlook previously assigned to Upland’s...
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